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Our businesses > Tata companies > Titan Industries > Media releases |
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October 31, 2001
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Titan Industries Limited
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Unaudited
financial results (provisional) for the
period ended 30 September 2001
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(Rupees
in crore)
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| Particulars |
Quarter
ended
30-9-2001
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Quarter
ended
30-9-2000
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Half
year ended 30-9-2001
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Half
year ended 30-9-2000
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Year
ended
31-3-2001
(Audited)
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| Net
sales / income from operations |
138.32
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173.31 |
240.59 |
287.26
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696.90
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| Other
income |
0.87
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0.33 |
1.40 |
10.26
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11.63
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| Total
income |
139.19
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173.64 |
241.99 |
297.52
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708.53
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| Expenditure |
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| (Increase)
/ decrease in stock in trade |
(2.69)
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(1.52) |
(25.42) |
(20.30)
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28.27
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| Consumption
of raw materials |
75.31
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89.66 |
142.07 |
161.56
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341.19
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| Excise
duty |
11.23
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14.14 |
25.31 |
26.78
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58.13
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| Staff
cost |
17.20
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17.24 |
35.04 |
35.14
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74.07
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| Advertising
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5.57
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6.94 |
13.50 |
17.67
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40.10
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| Exchange
loss / (gain) |
(4.94)
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1.96 |
(3.48) |
1.22
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3.76
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| Other
expenditure |
14.99
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15.95 |
29.27 |
29.31
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68.67
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| Total
expenditure |
116.67
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144.37 |
216.29 |
251.38
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614.19
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| Interest |
12.26
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12.17 |
24.77 |
23.42
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47.84
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| Depreciation |
5.55
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5.51 |
10.83 |
10.98
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20.93
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| Profit
/ (Loss) before taxes |
4.71
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11.59 |
(9.90) |
11.74
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25.57
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| Taxes
- Income tax |
-
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0.94
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-
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0.96
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2.09
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| Deferred
tax |
1.76
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(3.42)
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-
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| Profit
/ (Loss) after taxes |
2.95
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10.65 |
(6.48) |
10.78
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23.48
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| Paid-up
equity share capital (face value: Rs.10
per share) |
42.28
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42.28 |
42.28 |
42.28
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42.28
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| Paid-up
preference share capital |
40.00
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40.00 |
40.00 |
40.00
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40.00
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| Reserves
excluding revaluation reserves |
-
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- |
- |
-
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125.09
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| Basic
and diluted earnings per equity share
(Rupees) |
0.48
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2.20 |
(1.99) |
1.96
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4.41
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| Aggregate
of non-promoter shareholding |
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Number of shares |
19,078,141
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18,996,643 |
19,078,141 |
18,996,643
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18,996,643
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Percentage of shareholding |
45.1%
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44.9% |
45.1% |
44.9%
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44.9%
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Notes
- Despite an increase in market share,
watch sales declined due to trade downstocking
and macro-economic conditions. While sales
of Jewellery to Tanishq boutiques were
at last year's level, boutique sales to
customers rose by over 40%.
- The first quarter results in the previous
year included profit on sale of shares
amounting to Rs.9.66 crores.
- Historically, the first half results
are not an indication of full year performance.
Sales and profit are skewed to the commencement
of the festival and marriage seasons in
subsequent quarters when trade purchases
peak to meet consumer demand. This year
the festive season commences well into
the third quarter, almost one month later
than in the previous year. Consequently
sales in the current year are skewed more
than normally so into the second half.
- Consequent to the new Accounting Standard
AS 22 on 'Accounting for taxes on income'
becoming mandatory effective 1st April
2001, the Company has accounted the deferred
tax for the quarter and the half year
ended 30th September 2001 and the same
have been disclosed accordingly. The cumulative
deferred tax liability of Rs.45.63 crores
has been adjusted against the reserves
as on 1st April 2001.
- The figures of the previous period have
been regrouped/recast, where necessary.
- The above statement of financial results
was taken on record by the Board of Directors
at their meeting held on 31st October
2001.
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Bangalore
Dated: 31 October 2001 |
For
& on behalf of the Board of Directors
Xerxes Desai
Vice Chairman & Managing Director
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